FMR is below market; voucher rent may lag private rents.
0.59
1 BR
1 BR- 51360
0.60ratio
FMR$860
Market$1,430
vs market-$570
FMR is below market; voucher rent may lag private rents.
0.60
2 BR
2 BR- 51360
0.72ratio
FMR$1,130
Market$1,560
vs market-$430
FMR is below market; voucher rent may lag private rents.
0.72
3 BR
3 BR- 51360
0.87ratio
FMR$1,480
Market$1,700
vs market-$220
FMR is below market; voucher rent may lag private rents.
0.87
4 BR
4 BR- 51360
0.79ratio
FMR$1,490
Market$1,890
vs market-$400
FMR is below market; voucher rent may lag private rents.
0.79
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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Spirit Lake, IA fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Spirit Lake, IA is $1,130 a month. That is up 0.9% from $1,120 in FY 2026. Spirit Lake is in the Dickinson County, IA non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $1,091. The median county two-bedroom FMR in Iowa is $927, so Spirit Lake is 22% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Spirit Lake, IA
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$850
$860
+1.2%
$774–$946
1BR
$850
$860
+1.2%
$774–$946
2BR
$1,120
$1,130
+0.9%
$1,017–$1,243
3BR
$1,350
$1,480
+9.6%
$1,332–$1,628
4BR
$1,480
$1,490
+0.7%
$1,341–$1,639
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Spirit Lake, IA
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$860
$860
$1,130
$1,480
$1,490
FY 2026
$850
$850
$1,120
$1,350
$1,480
FY 2025
$820
$820
$1,080
$1,300
$1,430
FY 2024area FMR
$789
$794
$1,043
$1,261
$1,389
FY 2023area FMR
$693
$721
$949
$1,160
$1,275
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Questions about Spirit Lake, IA rents
How much will Section 8 pay for a two-bedroom in Spirit Lake, IA?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,091, which applies unless the housing authority uses Small Area FMRs, that basic range is $982 to $1,200 a month; under the ZIP-level Small Area FMR of $1,130 it would be $1,017 to $1,243. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Spirit Lake, IA in?
Spirit Lake, IA is in the Dickinson County, IA non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,091.
How much did fair market rent change in Spirit Lake, IA for FY 2027?
The two-bedroom FMR rose 0.9%, from $1,120 in FY 2026 to $1,130 in FY 2027. Since FY 2025 it has risen 4.6%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set